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Home Depot (HD) Stock Moves -1.3%: What You Should Know

In the latest market close, Home Depot (HD) reached $342.87, with a -1.3% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.46%. At the same time, the Dow lost 1.24%, and the tech-heavy Nasdaq lost 1.63%.

The the stock of home-improvement retailer has fallen by 7.43% in the past month, lagging the Retail-Wholesale sector's gain of 2.17% and the S&P 500's gain of 1.6%.

Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 14, 2024. It is anticipated that the company will report an EPS of $3.61, marking a 5.5% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $36.69 billion, reflecting a 1.53% fall from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.37 per share and revenue of $154.56 billion. These totals would mark changes of +1.72% and +1.24%, respectively, from last year.

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Investors should also note any recent changes to analyst estimates for Home Depot. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.1% decrease. Home Depot currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Home Depot has a Forward P/E ratio of 22.59 right now. This represents a premium compared to its industry's average Forward P/E of 15.96.

One should further note that HD currently holds a PEG ratio of 2.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HD's industry had an average PEG ratio of 1.74 as of yesterday's close.

The Building Products - Retail industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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The Home Depot, Inc. (HD) : Free Stock Analysis Report

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